 Okay, there you go. I'm going to share screen. There. Okay. We almost are at the top and ready to go. Okay, we're ready to go here. So hello everybody. Thanks for joining today's session the 16th of June. We're here in 2022 in the United States, and the 17th of June if you're in Asia, Japan anywhere, as well as Europe so we got two days here going with tonight's session. Today we have somaya son, who is the managing director for a digital trade platform called trade waltz that happens to use hyper ledger so we're going to have him speak with us before we get going here. I want to bring out a couple things from a hyper ledger perspective. One, all welcome here so glad you're all here, as well as the people that are listening to the recording right now. And then number two, let's go to the next anti trust policy is available here. Please don't share anything that is competitive in nature is price fixing all that this is an open session that I'll get to participate in along with all the all the welcome here. I am recording this the recording will be available on YouTube here. There were 90 people registered for this and we'll put it up on YouTube and usually there's a few hundred people that look at that so if you're looking to listen to the recording thanks for joining us here and glad glad you're here. So with that, I'm going to turn it over to somaya son and let him do any further introductions that he'd like to do as well as start explaining trade waltz I'm very interested in hearing about this. You know, three people have already told me yeah we couldn't be on tonight but we want to, we're going to listen to the recording so that that's great great to hear that he has said that if I, you have questions along the way. You're welcome to ping them in I'll be monitoring chat here and looking at those or you can say it, you know, God speak up and ask a question. So that I'm going to stop sharing and somaya son, you can grab and start sharing your screens there. Thank you very much. I will share my screen. Beautiful. Looks good. Thank you very much. So thank you very much for giving me the chance to make presentation at the very nice stage on the hyper regular supply chain and finance specialized special interest group. Yeah, let me introduce myself. I'm Satura so may add I'm managing director of Redwoods Inc. And I'm in a person personally in charge of the head of CEO's office, which is charging for the promotion government negotiation or the recruitment and she was mission, special mission. And also, I'm the head of the global and alliance department alliance business department and making the consulting business alliance business and also the global expansion of our platform. And I'm also in charge of the U.S. effect, the Japanese committee member and also the I'm the member of the committee, the government of Japan to talk about the trade of digitalization in Japan. Yeah. And today, I would like to introduce our digital trade platform, trade words updates. We are successfully raised our production based product in this April. And we are now expanding our activity to global world, including the Asian area or the US area or your area like that. And I want to introduce almost in the future plans of trade was so we want to utilize a trade data to make some additional value functionality in the future. So I want to share the plan, some of the plans of the future technology and services. And if you have any queries, please feel free to just interrupt and get in the questions in my presentation. Yeah. Good, good. And I guess one other thing here. My understanding is that trade walls was part of the was presented a couple years ago possibly to the trade finance group and since we've heard that supply chain and trade finance. But for a broader audience there. So I think that's why the update was in there. So go ahead. So my son. Yeah, thank you very much. So the first slide which shows what is the issue we are focusing on for the service. The left side is showing the trade industry current situation. There are so many stakeholders in the economy, the country, like the car owners like the Mitsubishi Corporation existence and also meet to the logistics companies existing or is it like banks and the insurance and the airlines and also the shipping companies or the customs or the issue are she certification origin issuing association is also existing in one country. And also another part of the counterparty has also so many stakeholders so trade industry has so many stakeholders. And they want to digitalize the sharing information between them. So they are making some digital initiative internal companies. So they are now making so many digitalized data trade in Toyota or some SMBC or those kinds of group is also making the internal trade data. But the analog process is existing between a company to company B to B, and the company to government like the B to G, and also the government to government G to G. So those kinds of intermediate communication is still making the analog process because there are there were no standard format for the electrical transaction data in transaction trade, digital trade transaction, or sometimes they need some secure communication or structure to communicate between country to country or industry to industry. That is a problem. So right now, so many trade companies are using the paper documents, PDF, or the fax memory, or any other thing to exchange data. So if they get those kinds of analog data, they need to see what is written in this document and input to their internal system. And after that, they need to export the internal systems data to Word or Excel or spreadsheet or any other thing and making the PDF and the exchange to other party. That is the analog process between B to B and B to G. So this analog communication is handled by a paperwork. So in COVID-19 situation, trade practitioners need to gather in office so they cannot work from home. And also the status of inventory and logistics unclear because the paper documents or the PDF or the fax memory or internal system or the website of shipping companies, these are the having silo information, each other. So if the in COVID-19 situation, the Long Beach port or the Los Angeles port is stuck in the container, or in some Russia situation, the air container cannot fly across Russia's air, or China has some COVID-19 situation and making stop the ships on the port. Those issues happening and they cannot figure out what will be the alternative logistic route or how to book the space of the ship. Those is unclear. So they cannot completely solve the global wide logistic problems these days. And also by handling the analog papers, they take time in EU countries like the in-ground or the France, they take only two hours for one import plus one export transaction in this B to B communication. In Japan, 72 hours, around 34 times longer than EU. And also China and ASEAN countries takes average 235 hours for one import and one export. So 111 times longer than the EU. So, which means that one day work in EU will combat to the one month work in Japan and combat to a four month work in ASEAN countries. That is world bank research data. So the analog work cost is also expensive to handle the paper around 342 US dollar per trade in Japan. And that's a quick question of 72 hours there. Is that holding things up from actually getting unloaded off the ship or is that happening in parallel? It's just 72 hours of somebody's time to do that work. Yeah, 72 hours is done by the logistic department of each companies and the handle from the purchase order estimation and making contract and shipping documents and so on. The bankings are LCE insurance and also the insurance companies insurance policy or the import custom clearance and final payment. These areas are analog communication is done and the total will be 72 hours. Got it. Thank you. So, we want to solve this kind of the inconsistency of the trade operation in the analog process. We developed the one standardized, the Japanese standardized digital communication platform in the trade industry, which is called a trade war. And this is made by the whole Japan member. And also the supported by government. And this in this trade war, we need to secure the data transaction between B2B and B2G. We use the Hypervisor public, the blockchain technology to make the authenticity of the data and not copied or the approving not copied or the duplicated data. And using, I will explain the Hypervisor public utilization in next page, and utilizing this trade was a digital trade platform. In POC, we prove that the trade or fraction is our only use PC internet and also trademarks as a service as they don't need to design office in COVID-19 situation or other situation. And also, the status of the inventory and statistics are where we gather in thread was not in proximity or the PDF or the papers or the internal system or the website of shipping companies. The information will be stored in thread was so they can think about which area the which town or the which ship or the which port is right now stop. And the alternative lipstick boot is this and also are there some space for booking or something. Then the global was a stick problem can be sold in free integrated information. And also, by utilizing a trade was in POC. Japanese trade practitioners could reduce the number of time and also the working costs for 44% and also in POC in Asian country, like the Thailand, we could prove that 60% of the trade operation can be improved by utilizing trade was. And yeah, I want to introduce about the hyper region fabric. Yeah. We have the three layers in our system. The first one is that you are layer so trade production is can use by screen. Yeah. And also, as a second area, we are having the application layer. And we are using API specification API technology. So we can combine link to SAP Salesforce or any other system to input the data. Instead of the UI layer, so we can communicate all the system on the world. And after that, in the communication between industry to industry or the industry to government, we need to make proof. This is a true data, and we need to make the record of the transaction. So we are using the API technology to store the blockchain player. And we are using the kind of the record. And we are using the block trace, which is specialized by the entity research, R&D center, and this technology is a hyper region public. So utilizing this hyper region public, we are ensuring as a data source entity. And what is the specialized in block trace. We will have the nodes abroad in the future like not only in Japan but Thailand or Singapore or New Zealand or Vietnam or Cambodia and each country will have the one node and to check what's the data. What data will be the platform. And also we can make the data governance improvement. We will not share all the data of the secret data to all over the world. We will store the secret data of our own country to own nodes or the distributed pressure that the authenticity of the data can be shared to the global world. So the recording data to the blockchain area is relatively small. So the performance is very good as a speed. And also data governance is very secure. And the making use utilize blockchain technology that is our blockchain layers feature. Okay, can I ask a quick question back on this. Let's see. So the way to interface with this is either via some sort of UI GUI, right, or an API that sounds like you provide it okay. So those are the two mechanisms for interfacing with this. Yes. Beautiful. Okay, got you. And then I think I got is that each country is is any any shippers or any any participants that use people one node per country is way we have it set up right now. Ah, yes. And I will explain and the global expansion of those companies. Okay, got it. Okay, that's the future part. Sorry. Okay, any, any questions out there from anybody else before Samaya son continues going once going twice, going three times. So Maya, go right ahead. Okay, right. And there are so many digital trade platform existing in the all over the world. But our trade was advantage for the future is our strategies all in one. That is the terminology of our strategy. Yeah, there are about 50 digital trade platforms around in the world wide to utilize blockchain technology and launching so many services these days. And maybe as a 45 or around our trade, this upgrade platform is focusing on the one industry like the exporters and the importers communication like the pre trade. The digital trade platform is existing and also the financial area banks platform is existing and also carriers platform is existing and for this platform is a system. I introduced that's the problem is between the industry to industry, the first. So if they will create the data in one industry platform, they need to communicate to other industry platform by the one by one. And sometimes the other input to other platform. So, we need the cross industry platform to communicate the banks and carrier or bank to other. So we need to have to make the communication between industry to industry and also platform to platform. So we, we want to be that kind of have functionality of the trade practitioner and also the platform. Maybe around the five platform or the maybe less than 10 platform is focusing on the cross industry right now. And the second, we are covering the wide variety of documents. Some trade platform is focusing on the finance area. So they will create the finance areas documentation digitalization. And sometimes the logistic areas, the document digitalization by a shipping company, but we need to make a communication between cross industry. So we need to cover all the documents that was very tough work for us, and to develop this data model by four years very long time by a Japanese si years. Yeah, but through this long year development, we can not only cover all the type of document, but we can store the structured data that is also one more point. Sometimes the digital trade platform is exchanging PDF data each by each, but we are storing the contract name or the contract person's name or the price or the quantity, those kinds of the column level data into our transaction data and approaching. So we can utilize these data to automatically generate other documents because other document is also using 60% or 70% same data from other documents. So when we utilize column level data, we can utilize the data to generate other documents internally. And not only utilize the data internally, we can share by using the user's permit to share and to the alliance partner over the wide. So the 50 digital trade platforms are in global wide is not our competitor, but our friends or the collaborator in that meeting. We are making alliance to the carriers platform bank platform or expertise platform to share our problems data to utilize the carriers functionality or the bank platforms functionality or any other thing. So our aim is to create ecosystem digital platform ecosystem together, and we want to be the iPhone for the Japanese for the Asian trade production years and making the app store application store on our platform and selling the collaborators product on our application store and connect the data and the trade production is of Asia or in Japan can use the all over the world's rating services by entrance of the trade once that is a concept of the system. And trade wars is started, but by not only one company but the consortium of Japan, the blockchain expert entity data is gasoline, the 18 companies of trade production years, three mega banks, three insurance companies and eight to our owners and the carriers was big companies. So we made the top brand of the trade industry players and as a cross industry consortium from 2017. And we discussed what is the problem in trade industry all over the whole picture and how to solve by the blockchain technology and create its products prototype in first year, and then miss POC in Singapore, Japan, Thailand and proves the improvements or the benefits of our platform. And the main is a loving activities with the K-Dunlin, that's a big companies association in Japan to change the law to accept the document trade document digitalization and we changed the three times that's a role by loving. And right now, in EBR situation, we made a two year negotiation with the government of justice and also supported by prime minister, former prime minister. We could make the plan to change, suggest the plan to government of justice in this February in a correct way, a proper ways, and maybe Japan can change the government role to accept the EBR in 2025 right now. And also, we made me making the global activities to make this market a lesson. So, we made the project with ASEAN, government in countries, and also the APIC international conference, and also we attacked with the government of Japan to make the promotion in G7, G20 or the World Economic Forum or any other affairs. And yeah, as you know, the digital trade platform or the industry is now expanding right now, so we created a company to handle this platform, the trade was in 2000 by investment by seven big companies, and also right now three companies are joining from the academic career and also the logistic career. So right now we are calling the core Japan, and also supported by the government, so industry, government, academic core Japan, start from Japan. So, so my real fast question back to the co-invested, co-invested means they put some money in right. Okay, and the others, I don't know if later you're going to speak to how you're charging for this or what's the charges in order to use the network, that would be helpful also. Oh, right. Yeah. Invested is just to, they are making the stakeholders and our service fee model is annually, annual base or the transaction fee model, we are having the two types. The trade production years are who use trade was I will pay the service fee for annual or the transaction based to trade words, and they will reduce about the 60 US dollar by each trade operation by utilizing trade words then they will pay around 10 US dollar or 20 US dollar like that. So they can get the benefit for 50 or 40 US dollar per trade. So if they can times the 1000 transaction, they can get the benefits that kind of thing. Okay. Yeah. Yeah, thank you. Thank you very much. So we are now starting the digitalization in Japan's trading industry, but that if the counter parties company has no digital trade platform or not connecting. We need to make the print out digital data to paper and send it to counter parties. So we are now making the system linkage between a digital trade platform like the national platform of Thailand or Singapore or New Zealand and Australia, then we can exchange the trade, digital trade information each other, and the end to end free digitalize can be achieved. So we are making the five countries system linkage project in a big international conference. And this vision is for 2022. And right now one year development is now continuing. And we will make the results report in the summit of the epic in Thailand. And this year, the chair countries are Thailand. And the next year we will be the USA. And yeah, we will make some nice, we want to make nice speech. Yeah. And this project is supported by the Japanese government Meti. And also, in this project, we are making some additional mission, not only exchanging the data. We will challenge the issue of exchanging between the countries. And also, we are talking with the visualizing CO2 emission platform, which is called zero gold from Japan to visualize the Japan to Thailand is a logistic one transaction. And we will make this CO2 and Japan to Singapore's this container has this CO2 emission. This kind of a calculation should be investigated by this. Okay. So scope to types of carbon tracking. So, yeah, planning and making sample will be that 2022 and maybe 2023, we will make the conform functionality. Yeah, okay. And we are not only connecting the platform, but some countries are not having the digital platform yet. So, in that timing, we are now making the global expansion which means that we can share or rent as a framework as a franchise to other countries. In ASEAN economies, we are having so many discussion like the Vietnam or any other Indonesia or something. And on April 23, the chair country of ASEAN this year is Cambodia. And we met the prime minister of Cambodia in this April. In just the 30 minutes between our prime minister Kishidasan's international meeting and also the dinner time, we could have the 30 minutes for discussion. And with the suggestion that the traders can contribute to the not only Cambodia but ASEAN countries. So, we want to request some support and something. And yeah, he said the positive feedback about those kinds of things. And he assigned the ministry of the foreign investment area. So, we will move on to the next step in ASEAN economies countries. And in Vietnam, we are also making some kinds of process. And Kishidasan is also visiting to Vietnam one week before our business trip. And he said about the trade world is now making the private sector's activity to digitalizing paper based trade procedure between Japan and Vietnam. So, all Japan is also promoted by governments right now. That is the expansion to the global wide and if we can get linked the trade data. The next step will be utilizing data to create some new functionality like the compliance check. Yeah, we need to make the compliance check if the items are a little bit danger. So we will check by complying, compare to the government's role or something in our masters of the items constitution. So not mean the lithium-ion battery but the lithium-ion battery will contain the copper or the lithium or something. And in that meeting, by this role, government's role, we need some application to before the transportation that kind of thing. We will make the compliance check. This functionality is now preparing and will release in 2023. And in the future role, we can visualize or that we can know the transaction amount or the rate payment rate or something and also the stages for and we can make some credit rating up to the global trading trading area like Amazon. And then we can make the credit risk or rating functionality in the future. So we want to gather the data to prove which company is best for trade partner or something. We are already tracking, already, we are making the POC and prove that this is Japan to Taiwan, the Chinese type-based transaction when and where the container is getting to Taiwan. Those kinds of things can be visualized. And also, digital currency payment is proof. We are using the EVL documents data in trade works and the other digital currency payment is a digital platform utilizing blockchain. So two blockchains are combining by the atomic swap technology. And this was the first use case to communicate the blockchain to blockchain communication and this payment by smart contract in the world. And this is what broadcasted in famous newspaper in Japan. But this is just POC. So we want to get to the next step. Yeah, this is the final slide. If we can get the contract flow by the trade works and the flow of goods will be censored by the IoT sensor like the IoT area as we noted in two slides previously. And we can make the smart contract to pay the money by the digital currency. Maybe this trade industry can be a little bit automated utilizing these three technology, blockchain, IoT, and also the smart contract to pay and the digital currency. Yeah. So then our trade industry business model could be changed like the Uber changed the way of taxi like that. Thank you for listening. And if you have any queries, please feel free to contact for us this time. Thank you, Samaya son for sharing that with us here this evening US time of morning there in Japan here. I got one question and folks up to your questions here either in chat or get ready to speak here. If you have a little bit who's back, you talked about it took four years to create it. So, maybe if you could explain a little bit you know was was that where was all the time was that there's a lot of fighting between people said I don't want this data model I don't want it was an shared data sharing issue. What should be the minimal data shared and what could I also share, you know, kind of a data privacy data security type of issue or what what why did it take four years to create a data model. Well, maybe about 1.5 or two years to share and make some minimum common sense of the data takes time, like there are three mega brands, or the three mega insurance companies or orders. So, yeah, I have this column in this transaction, but I have another column so we need to set some standard model together that takes time. So, we first establish the free blockchain cover the platform to utilize the data, but the performance and the development cost could be very, very expensive. If we utilize blockchain technology all the area like the application area and also the UI layer or something. So, we changed the data model to the stores area and applications area and making the which content should be stored in blockchain area and which data will be controlled by application where that take time for one year. And also the development of the companies like that and making the some comment feedback from the trial users and we changed some data columns to switch those kinds of not fighting but the brush up in the time takes so many times. So, so a couple years to get the data model there and then another year or so to figure out what should be any blockchain and what should be in the application layer. Yeah, and then kind of far needed make it solid all that kind of good stuff. Yes. Yeah, okay. Good, good. What any questions out there from folks. I got one more question if there's no other questions out there so anybody want to shoot. Okay, well I'm going to ask one last question and then we'll close things out here. So, you talked earlier about a pack and some of the other countries and some of the other trade systems that are out there that you're integrating with. How much, if you talk about the broader world. Have you looked at things like trade lens who are doing something similar to what you're doing there and working together with them. Is that is that a possibility that people could dream about, or is that something that not not not probably not going to happen. And if you don't give anything confidential obviously here. Yeah, we are also make the press release with friends in Thailand project. Yeah, everyone, every platform can be have the same concept in B2B area. Yeah, in B2C area one user interface can be spread to all over the world right like the Amazon or Alibaba or something. Yeah, B2B area, every country has own policy and own industry has own policy so maybe one digital platform can explore cannot be happen I think so the interoperability is one very important and the keyword for the B2B. So, they will get all market digitalization and connect in some area between the platform to platform. That is the same concept in the trade industry, trade digital platform industry. So the dream is same. But how to achieve the dream could be the realize to the real world. That is the users and also the financial area. So we are now having so many NDAs for their collaboration talk discussion between platforms. But how to move on to the next step, we asked each other, who will be the potential customer to use this linkage between platform. And we are asking, and if we get some potential customer together, then again move on to then we will not making the POC festival, but we can make a real transaction between platform to platform, then we can realize the dream come true like that. Yeah, cool, cool. Okay, I like that answer to some eyes. And that makes perfect sense if there's something if there's need to do it, we're going to we'll try to make it happen. There, and it will eventually come out there. So, I'll give any last thoughts here on questions before I close out here going once going twice, going three times. So, folks, thank you very much for joining us here for the session. Thank you so my son for sharing with us I already saw a thanks great presentation in the chat there. On the 26th of June will be our next session is going to be an open discussion to talk about blockchain trade finance and supply chain. I'll be together with my other co chairs, Eric Vela quiet as well as Andrea Frost and any will have will have that open discussion that we already have some folks lined up for July here. And then in August will take some time off for a little bit of summer. So, with that, again thanks everybody who joined live the folks who are with us on recording thanks for joining the recording on YouTube here and enjoy a summer day wherever you are. Goodbye. Thank you very much. Bye.